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Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
 With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long road of recovery in terms of hiring rates. After the first glimmer of hope received Friday with the halt of the BDI’s 35 day slide, Monday’s session was again on the positive side. The BDI ended at 1732 points, up by 12, with gains noted both in the capesize and the panamax end of the market. Still, shipbrokers’ reports have warned that demand from China remains subdued, which means that no particular “rally” should be expected in the near term.
In its latest weekly report, Commodore Research & Analysis said that “recent spot chartering activity has decreased sharply from moderate levels seen at the start of the month. Two weeks ago, the steady increase in available vessel supply was largely responsible for the continued decline in freight rates. Last week’s decrease in freight rates, however, was largely due to the recent decline in spot cargo demand. A sharp week-on-week decrease in iron ore fixtures put additional pressure on capesize rates - but owners have reportedly begun to take their Capes out of the market in order to artificially reduce vessel supply, which would help capesize rates find support. This ploy might be working - capesize rates increased by 3.5% on Friday, after previously falling for 11 consecutive days and during much of June.
Panamax freight rates have also been finally able to find support. A moderate amount of South American grain fixtures and Indonesian and Australian coal fixtures continue
to come to the market, which have led to a moderate increase in panamax rates. Also encouraging is last week’s minuscule week-on-week decrease in Chinese steel prices.
Chinese steel prices need to reverse their decline before a sustained increase in freight rates is possible” said Commodore.
Port congestion still affect shipping rates, with approximately 155 vessels currently anchored outside major Australian ports, 10 more than a week ago. Approximately 40 vessels are anchored outside major Brazilian ports, 10 less than a week ago. Of the 195 vessels congested outside of the Australian and Brazilian ports, approximately 100 of them are Capesize vessels. In comparison, 110 Capesize vessels were anchored outside of Australian and Brazilian ports a week ago. Lower levels of global vessel congestion continue to put pressure on freight rates. Rates have come under additional pressure due to the recent decline in cargo demand.
According to Commodore, “although cargo demand has seen a noticeable week-on-week decline, owners are reportedly taking their vessels out of the market which might help rates find support”. Meanwhile, the report said that Chinese steel exports have possibly peaked. “China has exported 23.58 million tons of steel in the first six months of 2010, 14.25mt (153%) more than the 9.33mt exported during the same period in 2009. This increase in seaborne cargo has helped support rates for smaller dry bulk vessels. Chinese steel exports are about to come under pressure, however, even though global steel demand remains robust. Recently passed legislation which removes rebates for Chinese steel mills on various types of steel exports came into effect on July 15. Chinese steel exports totaled 5.62mt in June, the largest total since September 2008, but Chinese steel exports are now, on average, 10% more expensive than just 4 days ago. Chinese steel exports are now likely to begin coming under pressure” Commodore said.
As for coal trades, more thermal coal will likely be used by China, to fuel any increase in power generation, with the country’s hydropower output likely at or near its peak. As a result, Chinese thermal coal imports, which have been robust but on the decline since April, could find additional support. Commodore mentioned that in recent weeks, a moderate amount of Chinese thermal coal fixtures have been chartered in the dry bulk market and fixtures may increase in the upcoming weeks. It still remains to be seen if China will be able to generate enough electricity to satisfy growing demand.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
Thursday, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...
Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
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- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Australian Coal Association
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
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